Tera Group Hopes to Offer First Bitcoin Swap
The world's first bitcoin swap could be just days away, provided Tera Group Inc has its way. The startup derivatives exchange claims to have created the first bitcoin swap and hopes the new derivative will allow financial institutions to hedge the volatility of bitcoin. Tera says it has already constructed the terms for a multi-million dollar swap between two US institutions which would hedge the value of bitcoin against the US dollar. In layman's terms, if betting on derivatives does not get your adrenaline pumping, betting on bitcoin volatility probably should. Standard swap framework....
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A self-proclaimed "global pioneer" in the derivatives marketplace, Tera Group, Inc., today announced a legal framework for bitcoin swaps - effectively allowing investors to swap payments based on how bitcoin is performing in comparison to a fiat currency. Tera, according to their announcement, has put together terms for what is said to be a "multi-million dollar" swap that involves two United States institutions over a 25-day time frame. "The use of a bitcoin swap is an inflection point in the evolution of crypto-currency," said tera CEO Christian Martin. "There is incredible momentum and....
MGT Capital Investments announced a planned merger with Tera Group, which operates the first regulated U. S. Bitcoin derivatives exchange. The merger will create the first publicly traded U. S. Bitcoin derivatives exchange. As observed by The Wall Street Journal, this is a reverse merger where Tera will take a controlling stake in MGT. Tera doesn't seem too interested in MGT's gaming operations, so the operation is primarily a way for Tera to go public. In other words, Tera is buying a public listing on the stock market for its Bitcoin operations. Tera has played a leading role in the....
Only a week after ruling that bitcoin and other digital currencies are commodities, the U. S. Commodity Futures Trading Commission (CFTC) announced on Thursday that they have settled charges filed against TeraExchange LLC (Tera) for arranging a "non-deliverable forward contract" last October. Neither of the parties entering the trade were looking to profit off of future bitcoin price changes, but rather to test Tera's network. However, Tera subsequently released a press release that indicated the pre-arranged swap was a real trade, which would violate both the Swap Execution Facility (SEF)....
NewBitcoin ATMs in the USA and the UK, youth entrepreneurial program looking to empower under-served populations with Bitcoin, MGT Capital Investments to merge with Tera Group and launch the first publicly traded American Bitcoin derivatives exchange, and more top news to wrap up the week. MGT Capital Investments announced on February 26, it has enter into a Letter of Intent with Tera Group, Inc., the owner of TeraExchange, LLC, a Swap Execution Facility regulated by the US Commodity Futures Trading Commission (CFTC). Both companies are looking to come to a definitive agreement by March....
A few weeks ago Bitcoin Magazine reported that Tera Group, which operates the first regulated U. S. Bitcoin derivatives exchange, will take a controlling stake in public company MGT Capital Investment to create the first publicly traded U. S. Bitcoin derivatives exchange. On Monday, Tera Group announced the appointment of former New York Stock Exchange (NYSE) CEO Duncan Niederauer as an advisory director. Before joining NYSE in 2007, Niederauer was managing director and co-head of the Equities Division Execution Services franchise at Goldman Sachs. "This is an excellent opportunity to....